Regulators Suggest Power Company Cuts Rates

Thursday, Jan 30, 2014  |  Updated 12:30 PM EDT
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Regulators Suggest Power Company Cuts Rates

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Regulators are recommending New Jersey's second-largest utility cut electric rates by more than $200 million.

Jersey Central Power & Light was seeking to boost rates by $31 million. But staff members with the state Board of Public Utilities say JCP&L earned a profit above its approved amount.

The state's Rate Counsel Division has been pressing for lower rates.

JCP&L spokesman Ron Morano tells The Star-Ledger of Newark the company will evaluate the brief and reply to the recommendation. Morano says the filing does not address the utility's request to cover storm-related damages from Sandy, Irene and other major weather events.

The state's four BPU commissioners will have the final say.

JCP&L serves parts of Ocean and Burlington Counties.

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